I disavowed spammy links to my site and got the manual penalty revoked about 2 weeks before Penguin 2.0 came out.I removed lots of the "sub-par content", rewrote content that was worth keeping and added lots of new quality content (I know this has nothing to do with Penguin but rather with Panda).Yet, the Penguin 2.0 bulldozer sent my website to hell and it does not look like it's coming back. It went from 18,000 - 20,000 impressions per day to 1,500 - 2,000 in less than a year.